Russia's LNG exports under the Government’s approved Energy Strategy through 2050 will reach 142 bill cu m in 2030 and 241 bill in 2050, Russian newswire Interfax reported.
By comparison, Russia's LNG exports totalled 45 bill cu m in 2023.
The strategy’s key performance indicators (KPIs) included increasing LNG production from 32.34 mill tonnes in 2023 to 90-105 mill tonnes by 2030, 110-130 mill tonnes by 2036, and 110-175 mill tonnes by 2050.
Specifically, to achieve the production target of 100 mill tonnes by 2030 involved the completion of Arctic LNG 2 (19.8 mill tonnes) and the Ust-Luga project (13.2 mill tonnes), while constructing the Obsky LNG (4.8 mill tonnes), Murmansk LNG (20.4 mill tonnes) and Arctic LNG 1 (19.8 mill tonnes) in addition to the existing projects, such as Sakhalin 2 (9.6 mill tonnes) and Yamal LNG (17.4 mill tonnes).
‘LNG will play a significant role in global gas trade, due to its flexible logistics. By 2050, the total capacity of proposed LNG plants could approach 1 bill tonnes, more than doubling current levels.
‘Consequently, competition in the global LNG market will only intensify,’ the Russian Government’s strategy document said, Interfax reported.
Elsewhere, Russian energy giant, NOVATEK’s total hydrocarbon production was 169.1 mill barrels of oil equivalent for the first quarter of this year.
This includes 21.35 bill cu m of natural gas and 3.48 mill tonnes of liquid hydrocarbons (gas condensate and crude oil), which was an increase of 1% or 1.7 mill barrels of oil equivalent, compared to 1Q24.
Preliminary total natural gas sales volumes, including LNG, was 21.48 bill cu m, an increase of 0.1%, compared with the same period in 2024.
NOVATEK also processed 3.4 mill tonnes of unstable gas condensate, which was 1.9% higher, compared to corresponding volumes processed in 1Q24. In addition, the company processed 2.2 mill tonnes of stable gas condensate, representing an increase of 59.9%, compared with the previous period.
Preliminary liquid hydrocarbons total sales volumes totalled 4.5 mill tonnes, which was 5.4% higher than in 1Q24.
As of 31st March, 2025, NOVATEK had 0.2 bill cu m of natural gas, including LNG, and 1.7 mill tonnes of stable gas condensate and petroleum products in storage or transit and recognised as an inventory.
